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GOLD PRICE IN PRINCE EDWARD ISLAND — OCTOBER 2008

C$942.32 avg/oz

During October 2008, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$863.89 to C$1,017.43 per ounce, with a monthly average of C$942.32. The month opened at C$936.36 and closed at C$863.89, a loss of C$72.47. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — OCTOBER 2008

DateClose (CAD)Change
October 1, 2008C$936.36+6.82
October 2, 2008C$905.11-31.25
October 3, 2008C$893.64-11.47
October 6, 2008C$949.49+55.85
October 7, 2008C$970.19+20.70
October 8, 2008C$1,017.43+47.24
October 9, 2008C$1,013.62-3.81
October 10, 2008C$1,006.55-7.07
October 13, 2008C$961.04-45.51
October 14, 2008C$972.37+11.33
October 15, 2008C$995.92+23.55
October 16, 2008C$945.93-49.99
October 17, 2008C$927.75-18.18
October 20, 2008C$940.24+12.49
October 21, 2008C$928.36-11.88
October 22, 2008C$921.17-7.19
October 23, 2008C$889.49-31.68
October 24, 2008C$927.49+38.00
October 27, 2008C$961.84+34.35
October 28, 2008C$937.58-24.26
October 29, 2008C$920.07-17.51
October 30, 2008C$887.88-32.19
October 31, 2008C$863.89-23.99

📊 Gold Market Analysis

Gold has historically served as an effective hedge against inflation and currency depreciation in Canada. Central bank policies, including the Bank of Canada's interest rate decisions, directly influence the attractiveness of gold relative to fixed-income investments. Gold mining stocks on the TSX (Toronto Stock Exchange) — including Barrick Gold, Agnico Eagle, and Kinross Gold — offer leveraged exposure to gold prices. However, physical bullion provides direct price exposure without management risk, dilution, or operational challenges. Many Canadian financial advisors recommend a mix of both.

❓ Frequently Asked Questions

❓ Where can I buy gold in my province?

Most Canadians buy gold online from national dealers (Kitco, Sprott Money, SilverGoldBull) with insured shipping to any province. Some metropolitan areas have local coin shops. The Royal Canadian Mint operates a retail store in Ottawa, Ontario.

❓ Is gold taxed in Canadian provinces?

Investment-grade gold bullion (99.5%+ purity) is exempt from GST/HST in all Canadian provinces under the federal Excise Tax Act. However, provincial policies may vary for numismatic coins, gold jewelry, and gold items below the purity threshold.

❓ Does provincial tax rate affect gold investment returns?

While GST/HST-exempt gold itself is unaffected by provincial tax rates, the marginal tax rate in your province affects capital gains taxes when selling gold. Provinces with lower marginal rates provide a slight advantage for non-registered gold profits.

💡 Canadian Gold Investor Guide

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$942.32
Per GramC$30.30
Per KilogramC$30,296.25
Per Pennyweight (1.555g)C$47.12
Per Tola (11.66g)C$353.37

📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides